Saudi shelves $200 billion SoftBank Solar project: WSJ | Reuters:
Saudi Arabia has shelved a $200 billion plan with SoftBank Group Corp (9984.T) to build the world’s biggest solar-power-generation project, the Wall Street journal reported on Sunday, citing Saudi government officials.
No one is actively working on the project, and instead, the Saudi kingdom is working up a broader, more practical strategy to boost renewable energy, to be announced in late October, the WSJ reported on.wsj.com/2NW8wlH.
SoftBank Chief Executive Masayoshi Son had announced in March a plan to invest in creating the world’s biggest solar power project in Saudi Arabia, a project expected to have the capacity to produce up to 200 gigawatts (GW) by 2030.
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